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Updated: May 26, 2025
How they are managed, is a secret altogether unknown to the public, and of which, indeed, the livery and freemen of some of the companies have but a very limited knowledge. The revenue derived from the trust-estates, according to their own shewing, is not much less than L.90,000 a year; but they have large revenues, of which they do not choose to shew any account at all.
Perhaps this inquiry may lead to the recovery of some of the charities which are stated to be lost, and of which nothing but the titles, under the denomination of So-and-so's gift, remain upon the corporation records. The secret management of the trust-estates contrasts curiously with the pompous exhibition which some of the worshipful companies make of their deeds of benevolence.
It would be difficult for any eccentric testator in the present day to hit upon a new method of disposing of the wealth which he can no longer keep. Every device for the exercise of posthumous generosity seems to have been exhausted long ago. The trust-estates, the source of so many of the city of London charities, are mostly, if not all, under the control of the corporate companies.
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